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Raba Cuts Hours to Save Jobs

Hungarian vehicle and vehicle parts maker Raba will reduce work time at all three of its divisions in Q1 and, depending on stock of orders, Q2, to 32 and 36 hours per week, local daily Kisalfold reported on February 23.

CEO Istvan Pinter told the paper the company had already cut its contracted labour, extended its shutdown over the winter holiday and introduced a four-day work week. Hopefully, more drastic measures will not be necessary, he added.Demand could pick up in the United States in the second half of the year, but not in Europe. Demand could also increase in Russia, Mr Pinter said.